Russia's President Dmitry Medvedev signed a decree "On establishing an open joint stock company, Oboronservice". The new structure will unite a number of companies currently under the jurisdiction of the Ministry of Defence "whose economic activity may be conducted in the interests of a wide range of consumers." They operate in such fields as aircraft and weapons maintenance, construction, trade, hotel services, agriculture, and publishing.
According to Medvedev's press service, the decree "is designed to optimize the structure of those defense organizations that are not dominant in their respective sectors of activity, but nevertheless in need of investment and modernization." "After being registered by the state Oboronservis will become one of the Russian Federation's strategic enterprises and strategic joint stock companies," the press release adds.
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